Union Jack Oil Share Discussion Threads

[the skipper] 02/10/2020 12:03

Likeawalrus,

It’s easy enough if you have an account with one of the brokers involved with the placing and qualify to take part either as a ‘High Net Worth’ or ‘Sophisticated Investor’ under the Financial Services legislation. If you google those terms you will find the definitions online, noting that under the definition of the latter AIM listed stocks are classed as unlisted securities, so if you have a proven interest and history of trading AIM stocks and sufficient capital you might well qualify.

The broker that I use solely for participation in share placings is Shard Capital. Not sure what the minimum participation level would be, but on this occasion I only put in £6.5k as that was all the spare funds I had in that account. I’ve since bought more than that in my ISA with Interactive Investor since being able to buy below the placing price was a gift from the gods.

Hope this helps.

[maxwell] 02/10/2020 11:58

Going by the price paid ie:+0.17 but marked down as sells - spread must have reduced but not displayed??? Now Displayed...

[sweendog21] 02/10/2020 11:27

Good man of mine said this is going to be massive so im now in lets gooooo

[guesswhosback2] 02/10/2020 11:16

Agreed with that, DB made it an potential option and one he favoured to pay out shareholders on the sale of WN. Even at 0.50 that would be a great return for all and your shares will run for Wressel income and Biscathorpe drill. De risk before Christmas with a payment would be nice.

That of course is all dependant on the successful appraisal of WN.

[likeawalrus] 02/10/2020 11:14

Hey Skipper, how did you get on the "invitation list" for the placing? Is it a question of who you know? Was there a minimum investment? thx.

[the skipper] 02/10/2020 11:01

Well I took part in the placing and I have been adding to my position on a daily basis in my ISA. Initially I thought that I might derisk sometime after the West Newton well has spudded but having just re-read the interims I have come to the conclusion that all of the operations are about as low risk as you can get in this industry, so I will be staying on board until everything has played out, although I might trade it a bit in my ISA if there is a massive spike at some point.

In any share placing brokers and advisers often get paid in free shares and these are inevitably flipped to ensure that the fees are banked, but it looks like that overhang has largely gone now. Ergo the only way is up, but it was nice to be able to top up in my ISA below the placing price whilst the overhang was clearing.

[likeawalrus] 02/10/2020 10:30

last year it seems the placing shares were sold hard each time the share price made some progress, could it be different this time? When WN delivers, the share price could rise to 50/60/70/80 (your guess is as good as mine) and if the placing investors see this as the last placing (due to ujo becoming cash rich) would they sell at 20 for a quick 25% profit or are they more likely to roll the dice with WN? If I had participated in the placing I would sell some of my shares on the way up but hold on for the much bigger prize, ie WN. So I think we will see a steady recovery in the share price all the way up to the WN lottery win - no doubt the market will prove me wrong again :)

[bakedbean] 02/10/2020 10:10

Maybe a spiv offloading a few hundred mil for a quick profit ... when it clears we can move

[maxwell] 02/10/2020 09:53

5:1 buying but held steady

[bakedbean] 02/10/2020 09:32

That's my average a little lower ... a lot of buying this morning, thought it might have moved by now tho

[thetoonarmy2] 02/10/2020 09:17

Looking good for RNs soon, not that this lot adhere to the rules about when we will be informed unless of course you took part in the placing I suppose then you will be on the hotline.:)

[maxwell] 02/10/2020 08:51

See on Twitter that a comment about drilling pipes now on site, hence maybe
the drill last evening may have been testing etc.......

[bionicdog] 02/10/2020 07:42

Any proof?

[karina] 01/10/2020 22:45

Drilling has commenced tonight :-)

[karina] 01/10/2020 22:45

Drilling has commenced tonight :-)

[pandy999] 01/10/2020 21:52

First post just testing phone !
Bought three lots of these nothing over the top "aim" ! .

[pandy999] 01/10/2020 21:52

First post just testing phone !
Bought three lots of these nothing over the top "aim" ! .

[theaviator] 01/10/2020 19:17

I sent him some hermesetas for his tea. All good. He's alright is Cali Joe.

[maxwell] 01/10/2020 19:07

Cal Joe now settling down:-

[theaviator] 01/10/2020 18:26

Let's start however with production coming on with Wressle any of these days...Regardless of the past several weeks it's now done...will be nothing in grand scheme.

[theaviator] 01/10/2020 18:21

It's actually funny looking on LSE one saying "is this the next in pump on aim". They really are off their rockers. Perhaps the biggest oil find the UK has ever seen? That's a fact not a pump. Let BBC news pump it lol

[guesswhosback2] 01/10/2020 16:20

I guess its news tomorrow then.

[theaviator] 01/10/2020 14:42

Ready to rock max, bang that hammer and let's get this show on the road...

[bionicdog] 01/10/2020 13:49

Bomfin
They suspended the testing when they discovered oil not just the expected gas. They then redesigned the testing programme and will be revisiting WNA2 after WNB1 is drilled.